Many practitioners push estate planning as an immediate need for most people. No doubt, estate planning is important.
But, in my experience a more important need is to address for ourselves and our family the possibility of our incapacity. Thus, planning for incapacity needs to be a part of, and dovetail with, the estate planning.
Dealing with incapacity is an area where absent planning the default result is likely a court-managed guardianship — costly, time-consuming, extremely inflexible and frustrating. Failure to put into place planning for incapacity, candidly, also will at some later point significantly increase a family’s payments to lawyers.